Earnest Partners LLC Has $61.09 Million Stake in Albany International Corporation (AIN)
Earnest Partners LLC lifted its stake in shares of Albany International Corporation (NYSE:AIN) by 1.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,144,004 shares of the textile maker’s stock after buying an additional 12,652 shares during the quarter. Earnest Partners LLC owned approximately 3.56% of Albany International Corporation worth $61,090,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Albany International Corporation by 5.6% during the first quarter. Vanguard Group Inc. now owns 2,569,064 shares of the textile maker’s stock worth $118,306,000 after buying an additional 135,361 shares in the last quarter. TD Asset Management Inc. lifted its stake in Albany International Corporation by 10.9% during the second quarter. TD Asset Management Inc. now owns 10,200 shares of the textile maker’s stock worth $545,000 after purchasing an additional 1,000 shares during the last quarter. Moody Aldrich Partners LLC lifted its stake in Albany International Corporation by 37.6% during the second quarter. Moody Aldrich Partners LLC now owns 19,720 shares of the textile maker’s stock worth $1,053,000 after purchasing an additional 5,390 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Albany International Corporation by 65.0% during the second quarter. BNP Paribas Arbitrage SA now owns 10,308 shares of the textile maker’s stock worth $550,000 after purchasing an additional 4,059 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its stake in Albany International Corporation by 6.7% during the first quarter. Kennedy Capital Management Inc. now owns 212,298 shares of the textile maker’s stock worth $9,776,000 after purchasing an additional 13,384 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.
Separately, BidaskClub cut Albany International Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 22nd.
Albany International Corporation (AIN) traded down 0.61% during midday trading on Friday, reaching $57.10. The company had a trading volume of 122,151 shares. Albany International Corporation has a 12 month low of $37.00 and a 12 month high of $58.88. The firm’s 50-day moving average price is $54.59 and its 200 day moving average price is $50.82. The firm has a market capitalization of $1.83 billion, a PE ratio of 44.96 and a beta of 1.70.
Albany International Corporation (NYSE:AIN) last issued its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.36). Albany International Corporation had a net margin of 4.98% and a return on equity of 8.42%. The business had revenue of $215.57 million for the quarter. Equities analysts anticipate that Albany International Corporation will post $1.90 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Monday, September 11th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, September 8th. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Albany International Corporation’s dividend payout ratio (DPR) is presently 53.54%.
In other Albany International Corporation news, insider Daniel A. Halftermeyer sold 17,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $53.29, for a total transaction of $921,917.00. Following the completion of the sale, the insider now owns 66,377 shares in the company, valued at approximately $3,537,230.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 11.63% of the stock is owned by company insiders.
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Albany International Corporation Profile
Albany International Corp. is focused on textiles and materials processing business. The Company operates through two segments: Machine Clothing and Albany Engineered Composites. The Company’s Machine Clothing segment supplies permeable and impermeable belts used in the manufacture of paper, paperboard, nonwovens, fiber cement and various other industrial applications.
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